Recent News
On August 3, 2026 the company announced a definitive agreement to merge with Curium US Holdings LLC; the transaction sets a fixed-cash offer and contingent value rights tied to future commercial milestones. On August 6, 2026 Lantheus released its second-quarter 2026 financial results and noted the pending merger in its business update, including references to product and regulatory progress announced earlier in 2026.
Technical Analysis
ADX at 10.75 indicates no trend; directional indicators show weakening upside and growing downside pressure as DI+ declines to 18.49 while DI- has experienced a dip-and-reversal into 22.90, a configuration aligned with bearish directional pressure despite low trend strength.
MACD sits at -0.39 with the MACD trend labeled peak & reversal, which denotes bearish momentum; however the MACD currently trades marginally above its signal line (-0.44), creating a short-lived bullish crossover against the background of declining momentum.
MRO reads 15.69 and is increasing, indicating price currently sits above the model target and carries moderate potential for downward reversion; that suggests the market has priced a premium relative to the calculated target and pressure toward the target exists.
RSI at 47.55 with a decreasing trend reflects neutral-to-weakening momentum and supports a range-bound to slightly bearish near-term bias rather than strong directional conviction.
Price sits near the short-term envelope: close $100.32 versus the 20-day average $100.69 and 50-day average $102.17, with the 12-day EMA showing a peak & reversal pattern; the 200-day average ($85.36) remains well below the current price, preserving the longer-term uptrend context while short-term averages suggest mild distribution.
Bollinger bands compress tightly (20-day st. dev. $0.29), and Ichimoku components place the price marginally below the Kijun (101.01) and Tenkan (100.80), indicating limited upside momentum until the price clears near-term cloud levels and the super trend upper at $102.31 offers a clear short-term resistance boundary.
Fundamental Analysis
Revenue for the period totaled $388,180,000 with year-over-year revenue growth roughly +2.9% (revenue growth factor 1.02893). Operating metrics show gross margin of 62.31% and an operating margin of 25.82%, producing an EBIT of $98,740,000 and EBITDA of $121,322,000. EBIT margin measures 25.44%, above the industry peer mean of 10.70% and above the peer median of 19.38%, indicating stronger operating profitability versus the provided peer central tendency.
EPS came in at $1.55 versus an estimate of $1.30, producing an EPS surprise of +19.23% (EPS difference $0.25). Forward EPS sits at $1.594 and forward P/E 59.70; trailing P/E registers 64.35 and the PEG ratio reads 10.44, signaling elevated valuation multiples relative to near-term earnings growth expectations.
Liquidity and balance-sheet metrics display strength: cash and short-term investments total $593,298,000, current ratio 305.97%, quick ratio 288.82%, and cash ratio 176.75%, collectively providing ample near-term funding flexibility. Total debt stands at $624,958,000 with debt-to-assets 25.88% and debt-to-EBITDA ~5.15x, indicating leverage that remains serviceable given an interest coverage ratio near 20.09.
Free cash flow totaled $89,868,000 with a free cash flow yield of 1.38% and free cash to net income about 119.78%, reflecting conversion of earnings into cash but producing a modest yield relative to the enterprise value. Asset turnover remains low at 0.163, and return on equity measures 5.72% with return on invested capital near 4.19%, demonstrating modest capital efficiency despite healthy margins.
Valuation context: enterprise value approximates $6.54 billion with an enterprise multiple of 53.92 and price-to-sales around 16.77. The P/B ratio registers 4.96, roughly in line with the industry peer mean of 4.89. The current valuation as determined by WMDST: over-valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-06 |
| NEXT REPORT DATE: | 2026-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 500.3 M |
| Operating Cash Flow | $ 92.2 M | |
| Capital Expenditures | $ -2.33 M | |
| Change In Working Capital | $ 11.1 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 94.7 M | |
| End Period Cash Flow | $ 595.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 388.2 M | |
| Forward Revenue | $ 134.6 M | |
| COSTS | ||
| Cost Of Revenue | $ 146.3 M | |
| Depreciation | $ 22.6 M | |
| Depreciation and Amortization | $ 22.6 M | |
| Research and Development | $ 38.2 M | |
| Total Operating Expenses | $ 288.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 241.9 M | |
| EBITDA | $ 121.3 M | |
| EBIT | $ 98.7 M | |
| Operating Income | $ 100.2 M | |
| Interest Income | $ 6.3 M | |
| Interest Expense | $ 4.9 M | |
| Net Interest Income | $ 1.3 M | |
| Income Before Tax | $ 93.8 M | |
| Tax Provision | $ 18.8 M | |
| Tax Rate | 20.0 % | |
| Net Income | $ 75.0 M | |
| Net Income From Continuing Operations | $ 75.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.30 | |
| EPS Actual | $ 1.55 | |
| EPS Difference | $ 0.25 | |
| EPS Surprise | 19.231 % | |
| Forward EPS | $ 1.59 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.4 B | |
| Intangible Assets | $ 928.4 M | |
| Net Tangible Assets | $ 383.4 M | |
| Total Current Assets | $ 1.0 B | |
| Cash and Short-Term Investments | $ 593.3 M | |
| Cash | $ 593.3 M | |
| Net Receivables | $ 352.9 M | |
| Inventory | $ 57.6 M | |
| Long-Term Investments | $ 59.7 M | |
| LIABILITIES | ||
| Accounts Payable | $ 48.1 M | |
| Short-Term Debt | $ 697.0 K | |
| Total Current Liabilities | $ 335.7 M | |
| Net Debt | — | |
| Total Debt | $ 625.0 M | |
| Total Liabilities | $ 1.1 B | |
| EQUITY | ||
| Total Equity | $ 1.3 B | |
| Retained Earnings | $ 873.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 20.10 | |
| Shares Outstanding | 65.265 M | |
| Revenue Per-Share | $ 5.95 | |
| VALUATION | Market Capitalization | $ 6.5 B |
| Enterprise Value | $ 6.5 B | |
| Enterprise Multiple | 53.921 | |
| Enterprise Multiple QoQ | 90.575 % | |
| Enterprise Multiple YoY | 43.947 % | |
| Enterprise Multiple IPRWA | high: 296.418 mean: 62.146 median: 55.135 LNTH: 53.921 low: -183.285 |
|
| EV/R | 16.852 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.841 | |
| Asset To Liability | 2.189 | |
| Debt To Capital | 0.323 | |
| Debt To Assets | 0.259 | |
| Debt To Assets QoQ | -2.94 % | |
| Debt To Assets YoY | -11.019 % | |
| Debt To Assets IPRWA | high: 1.375 median: 0.28 mean: 0.27 LNTH: 0.259 low: 0.003 |
|
| Debt To Equity | 0.476 | |
| Debt To Equity QoQ | -7.701 % | |
| Debt To Equity YoY | -9.685 % | |
| Debt To Equity IPRWA | high: 2.28 LNTH: 0.476 mean: 0.433 median: 0.379 low: -1.742 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 4.963 | |
| Price To Book QoQ | 18.49 % | |
| Price To Book YoY | 23.863 % | |
| Price To Book IPRWA | high: 19.444 LNTH: 4.963 mean: 4.892 median: 2.286 low: -4.924 |
|
| Price To Earnings (P/E) | 64.354 | |
| Price To Earnings QoQ | 48.458 % | |
| Price To Earnings YoY | -9.458 % | |
| Price To Earnings IPRWA | high: 344.308 mean: 85.948 median: 69.659 LNTH: 64.354 low: -262.561 |
|
| PE/G Ratio | 10.44 | |
| Price To Sales (P/S) | 16.771 | |
| Price To Sales QoQ | 24.632 % | |
| Price To Sales YoY | 35.62 % | |
| Price To Sales IPRWA | high: 102.682 mean: 21.351 LNTH: 16.771 median: 14.212 low: 0.201 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 59.703 | |
| Forward PE/G | 9.686 | |
| Forward P/S | 48.892 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -13.488 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.163 | |
| Asset Turnover Ratio QoQ | -1.17 % | |
| Asset Turnover Ratio YoY | -10.041 % | |
| Asset Turnover Ratio IPRWA | high: 0.581 mean: 0.183 LNTH: 0.163 median: 0.162 low: 0.0 |
|
| Receivables Turnover | 1.096 | |
| Receivables Turnover Ratio QoQ | 3.71 % | |
| Receivables Turnover Ratio YoY | -0.684 % | |
| Receivables Turnover Ratio IPRWA | high: 4.716 mean: 1.586 median: 1.509 LNTH: 1.096 low: 0.254 |
|
| Inventory Turnover | 2.462 | |
| Inventory Turnover Ratio QoQ | 5.929 % | |
| Inventory Turnover Ratio YoY | 17.911 % | |
| Inventory Turnover Ratio IPRWA | high: 3.276 LNTH: 2.462 mean: 0.785 median: 0.649 low: 0.016 |
|
| Days Sales Outstanding (DSO) | 83.28 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 91.042 | |
| Cash Conversion Cycle Days QoQ | -5.762 % | |
| Cash Conversion Cycle Days YoY | -7.182 % | |
| Cash Conversion Cycle Days IPRWA | high: 495.615 mean: 138.227 median: 132.02 LNTH: 91.042 low: -294.725 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.561 | |
| CapEx To Revenue | -0.006 | |
| CapEx To Depreciation | -0.103 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.9 B | |
| Net Invested Capital | $ 1.9 B | |
| Invested Capital | $ 1.9 B | |
| Net Tangible Assets | $ 383.4 M | |
| Net Working Capital | $ 691.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.767 | |
| Current Ratio | 3.06 | |
| Current Ratio QoQ | 8.181 % | |
| Current Ratio YoY | -28.682 % | |
| Current Ratio IPRWA | high: 12.91 LNTH: 3.06 mean: 2.513 median: 2.126 low: 0.303 |
|
| Quick Ratio | 2.888 | |
| Quick Ratio QoQ | 9.23 % | |
| Quick Ratio YoY | -29.007 % | |
| Quick Ratio IPRWA | high: 8.948 LNTH: 2.888 mean: 1.898 median: 1.616 low: 0.336 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 5.151 | |
| Cost Of Debt | 0.629 % | |
| Interest Coverage Ratio | 20.09 | |
| Interest Coverage Ratio QoQ | -39.408 % | |
| Interest Coverage Ratio YoY | -9.735 % | |
| Interest Coverage Ratio IPRWA | high: 388.789 mean: 23.71 LNTH: 20.09 median: 11.42 low: -653.8 |
|
| Operating Cash Flow Ratio | 0.317 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 29.288 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.901 % | |
| Revenue Growth | 2.875 % | |
| Revenue Growth QoQ | -139.71 % | |
| Revenue Growth YoY | 102.893 % | |
| Revenue Growth IPRWA | high: 50.0 % median: 8.466 % mean: 7.982 % LNTH: 2.875 % low: -21.903 % |
|
| Earnings Growth | 6.164 % | |
| Earnings Growth QoQ | -20.812 % | |
| Earnings Growth YoY | -37.128 % | |
| Earnings Growth IPRWA | high: 134.286 % mean: 18.6 % median: 13.971 % LNTH: 6.164 % low: -150.0 % |
|
| MARGINS | ||
| Gross Margin | 62.305 % | |
| Gross Margin QoQ | 1.809 % | |
| Gross Margin YoY | -2.27 % | |
| Gross Margin IPRWA | high: 92.958 % median: 64.039 % LNTH: 62.305 % mean: 59.436 % low: -8.114 % |
|
| EBIT Margin | 25.437 % | |
| EBIT Margin QoQ | -40.483 % | |
| EBIT Margin YoY | -12.126 % | |
| EBIT Margin IPRWA | high: 63.968 % LNTH: 25.437 % median: 19.381 % mean: 10.695 % low: -792.605 % |
|
| Return On Sales (ROS) | 25.817 % | |
| Return On Sales QoQ | 19.784 % | |
| Return On Sales YoY | 10.95 % | |
| Return On Sales IPRWA | high: 43.228 % LNTH: 25.817 % median: 19.153 % mean: 10.25 % low: -1054.013 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 89.9 M | |
| Free Cash Flow Yield | 1.38 % | |
| Free Cash Flow Yield QoQ | -42.524 % | |
| Free Cash Flow Yield YoY | -12.492 % | |
| Free Cash Flow Yield IPRWA | high: 17.278 % LNTH: 1.38 % median: 1.113 % mean: 1.042 % low: -56.428 % |
|
| Free Cash Growth | -26.278 % | |
| Free Cash Growth QoQ | -152.795 % | |
| Free Cash Growth YoY | 3.432 % | |
| Free Cash Growth IPRWA | high: 447.609 % mean: -6.444 % median: -9.348 % LNTH: -26.278 % low: -491.065 % |
|
| Free Cash To Net Income | 1.198 | |
| Cash Flow Margin | 27.413 % | |
| Cash Flow To Earnings | 1.418 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.152 % | |
| Return On Assets QoQ | -39.127 % | |
| Return On Assets YoY | -16.525 % | |
| Return On Assets IPRWA | high: 23.439 % LNTH: 3.152 % mean: 1.739 % median: 1.348 % low: -69.189 % |
|
| Return On Capital Employed (ROCE) | 4.749 % | |
| Return On Equity (ROE) | 0.057 | |
| Return On Equity QoQ | -41.441 % | |
| Return On Equity YoY | -15.259 % | |
| Return On Equity IPRWA | high: 1.096 LNTH: 0.057 mean: 0.049 median: 0.025 low: -1.474 |
|
| DuPont ROE | 5.945 % | |
| Return On Invested Capital (ROIC) | 4.194 % | |
| Return On Invested Capital QoQ | -38.765 % | |
| Return On Invested Capital YoY | -11.78 % | |
| Return On Invested Capital IPRWA | high: 13.429 % LNTH: 4.194 % mean: 2.826 % median: 1.784 % low: -19.66 % |
|